Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-07-17

few years n clear, nervous, and strong
style Of writing. Courteous, amiable,
and generous, never lacking In self
possession or seli-command, the young
editor enjoys opportunities of self-ad-
vancement in his chosen profession
such as have been given to no one else
of his peers in New York.
Paul Dana has a compact head,
clear. cut features, and a well-knit
frame he is tall and 1.-THE he has a
constitution which, with his good
habits, ought to carry him safely
through the first third Of the twentieth
century. He is always dressed nattily,
in the very latest fashion, and you can
see that he keeps himself in prime or
der, as one accustomed TO the best IN
the world. As he strides down Broad
way in the morning or up in the after
noon during these dog days one who
does not know him would be unlikely
to suspect his power while holding the
chair of the Suns editor.
BIG SPECULATIVE BATTLE.
This is a year of big speculative bat
ties, each of which has proved com
mercial Waterloo. The issue of the big
cotton "deal, which is now attracting
so much attention, is awaited with con-
siderable interest. The deal is being
run by German houses and others here
and 1t Galveston, New Orleans, and, as
it is also understood, at st. Louis and
Chicago. Julius Runge, of the firm OF
Kaufman & Runge, of Galveston, is
the Marshal Butcher of the German
bulls, but whether he will meet with
the same success as his military proto-
type remains to be seen. He is Of me-
dunn height, well built, with handsome,
regular features, struggling light
beard, and thoughtful grayish-blue
eyes. Seen around the brass-rail-
ed pit of the Cotton Exchange,
with its high white arches and
stored windows, he might be taken for
a good-looking German peasant sud
denly raised to Opulence, though the lat
ter impression might perhaps be modi-
fed somewhat by the high black silk
hat which he wears in midsummer. be
was in the big coffee deal which col
lapsed some time ago, and he made
$3.50, Zoo. He is also understood to
have been one of the leaders in the re-
cent June corner in wheat here, where
by in q very short time the price was
lifted from 94c. to S1.07 per bushel,
and several million bushels were set
tied at the highest point without taking
account of the profits accruing from
sales at a lower range of quotations.
In the cotton deal the bull forces are
said to represent So, 900, 900, and at one
time they are understood to have held
2O0,0 bales here and 100, 900 in Liver
pool. Like the wheat and coffee specu-
lations, which were started mOnthsago,
the basis of the bull operations in cot
ton was the cheapness of the article and
the bullish statistical exhibit. Mr..
Runge began to buy cotton in Febru-
airy, when it was very low, and continued
to buy through March. He cornered
April and ran up the price 100 "points, "
or equal to one cent pound or $40
bale. Then he went on to manipulate
the summer months, and pushed up
tie market another cent or more, final
" fixing on August as the month to be
squeezed and screwing up the price to
IL cents. Then the market began to
roccde, and by the 1st of July
August was down TO 11.Ol cents,
and few days ago it touched 1921
cents amid great excitement, growing
out of rumors that the bulls were
throwing over their load. 1t was
stated that bulls in Galveston and
New Orleans were getting out of tue
deal as fast as they could, and in two
days it was noticed that the sales of
August cotton were no less than 49,,
coo bales. At one time the visible sup
ply in this country was more than
200, 600 bales less than mt the same time
last year, though the supply in Europe
was larger than on the same date in
1856. Just now the supply in New
York is 10000 bales less than a year
ago, but taking the consolidated stock
of the visible supply in the United
States there is a decrease compared
with that of last year of only $4,000
bales, while the visible supply in tde
world is /, 744, 6jS bales against 1,723,-
978 last year, or an actual increase at
this date of little over 10000 bales.
Orders to sell have latterly been re-
ceived here from all over the South,
many small holders becoming fright
ened by the break of fifty points, or
1926 bale, within o few days. One
Of the bear points was the report OF
the Agricultural Bureau at Washington
showing that the condition of the crop
was 81 per cent, against SO! year ago.
The prospects for big cotton crop, it
is averred, have not been SO flattering
for ten years, and this is one of the
reasons, it is asserted, for the selling
of long cotton. A bear in New
Orleans sends a dispatch that $4,000
bales Of new cotton are expected
there in August, though the cotton
year does not begin till September Is.
This caused selling because 1t was ar
gued that it will be harder tocOrner the
old crop if the new is to come to market
so early. 1t is, OF course, too early TO
make predictions as to the size OF the
next crop, but some of the more san
guine bears believe it will be unprece-
dented. TO show, however, how little
reliance may be placed on the predic-
tons of either bull or bear prophets it
may be stated that the estimate of the
next crop range from six and half mil
hon to eight million bales. The big
gest crop on record was that of 1882 80,
when it reached 6,950, 900 bales.
OTHER BULLS.
Among the bulls is Solomon Ranger,
once known as the Napoleon of the New
York cotton trade. He lost very heavily
by the failure of his brother, Morris
hanger, in Liverpool, some years ago,
but in this campaign he is SAID to have
been singularly successful. he is n
horn leader in speculation. and is once
more q power in the New York market.
He is at the head of The American Cot
ton Company here. He is short, thick
set, stoid, good-natured. ard popular.
He is Il German of Hebrew birth,
though without the facial characte-
ristics Of his ancient race. He is man
who could stand up in the cotton ring
and lose the whole of his fortune and
never move muscle. He is at